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CNBC
Nov 16, 2012 4:00am EST
employeeliemployee russia is still a good place to invest. >> a lot of cross border deals. is the environment todayl emplo russia is still a good place to invest. >> a lot of cross border deals. is the environment todayemploye russia is still a good place to invest. >> a lot of cross border deals. is the environment todaymployee russia is still a good place to invest. >> a lot of cross border deals. is the environment todayployee a is still a good place to invest. >> a lot of cross border deals. is the environment todayloyee i is still a good place to invest. >> a lot of cross border deals. is the environment todayoyee i is still a good place to invest. >> a lot of cross border deals. is the environment todayyee i f still a good place to in more or less friendly? >> there is no compare ton. when mr. putin came in, he changed the tax code which made a huge difference.ie ton. when mr. putin came in, he changed the tax code which made a huge difference. it was 13% flat tax, corporation tax 24% and suddenly you couldn't invest in companies because could you understand what was in the financials o
CNBC
Nov 12, 2012 12:00pm EST
. >> chad, thanks for coming on. joe? >> i think he's talking about an environment that sounds kind of -- >> was that all right? >> it was great. >> it sounds bond friendly, so to speak. i think ultimately this coming down to -- i know pete follows it. i know guy follows it as well. do you want to stay with this dividend theme? and i think you do. because the fiscal cliff, the compromise, it's going to come in somewhere around 20% to 25% when you add on the move higher and then the 3.8 affordable care act tax you've got there. if the dividend tax is between 20 and 25, stay with that thesis. >> pete, should you be selling some of your big winners right now because of worries about taxes changing at the end of the year? >> i think a lot of people have. i'm one of them. i've sold off some of the names where i've actually done fairly well. although i've added to some of the others. it all is depending on which sector you're talking about. joe, you're talking about dividends. i have never understood this whole idea of you got to get out of these dividend stocks. i think that's ludicrous. yo
CNBC
Nov 19, 2012 3:00pm EST
cash to protect themselves in this uncertain environment but does that mean, likely, they're going to spend that cash or put it to work once we get a resolution of the fiscal cliff? >> it all depends on how it gets resolved. if obama gets his way, and we get big tax increases on small businesses, but also increased double taxation of dividends and capital gains, we'll have a less friendly economic environment for investment to car inside the united states. and that would mean an incentive for companies not to conduct business here. maybe to expand their branchs and their operations overseas. yes, there's the short-term uncertainty in the fiscal cliff that's hurting, but then i actually agree with michael. it's long-term fundamentals that matter. our government is just too much of a burden. >> steve, what's at stake here? >> i want to talk about two scientists from two different fields. one is pav lolov. a dog would salivate when you put food in hem. ed prescott took that idea and said, you know what, when companies spend, they spend after and during recessions when they can count on g
CNBC
Nov 12, 2012 3:00pm EST
, will be relatively more protected in that environment. >> along those lines, michael, what are you waiting for to get back into the stock market in a bigger way right now and get out of bonds? >> i think have you to have the cyclical trade outperform. emerging markets are pretty resilient here. i think that's bullish. you also need to have bond yields rise. we see the ten-year back at 161 despite every single effort by the federal reserve to force reflags back into the system. the bond market has to believe the fed is going to be effective. >> so, for the foreseeable future, you're waiting for some sort of sign the economy -- the growth in the economy and reflation effort is going to take hold, is that it? >> the market has to believe it's going to be enough, by way of context. the fall from apple from peak to where it is now is $100 billion of market cap. $40 billion a month. the numbers are so billing and yet the federal reserve talks in billions when we live in a world of trillions. >> so what's the -- what's the best plan here, then, toward year-end? we have the clarity of the
CNBC
Nov 13, 2012 5:00pm EST
tablet for home use. it's hard to imagine enterprises switching to that type of environment. >> that's my point exactly. i think may blew it on the enterprise side. >> they may be able to get leverage with consumers and get buzz going. i don't think it's going to be earth shattering. i don't think it's a bad product either. >> damned if you do, damned if you don't. if it was geared toward enterprised they would say they're not going to stack up to apple in any way, shape or form. >> put a product out people wanted to buy, it wouldn't matter. >> the biggest issue is the apps. people buy the consumer side for the apps. the app store, they didn't have it. they didn't have anything that was even close to being competitive with apple. >> right. let's move on. we got to hit cisco. rising in the after-hour session. better than expected earnings. mary thompson has the details. >> we have guidance from cisco on the current quarter. it expects earnings between 47, 48 cents a share which would put it in line with estimates. expecting revenue growth of 3.5% to 5.5% in the boundary of estimates of
CNBC
Nov 11, 2012 7:30pm EST
, and the environment. each week keep it here where wall street meets main street. have a great week, everybody. see you next weekend.
CNBC
Nov 20, 2012 4:00pm EST
work regardless of the environment. i've been hearing lately a lot of the wall street firms have strategies. they're telling their clients what to buy, what to sell if, in fact, we go over the cliff. so what's your strategy, brian? let's say hypothetically speaking there's no deal by december 31st. what do you want to do in terms of strategy? expose yourself to winners and avoiding losers around fiscal cliff. >> well, i think that we're taking the policy that, you know, we're in that mind set of you don't fight the fed. we think it continues. we like the housing sector. we like, you know, kind of the building products. we like those surrounding groups that we think with bernanke keeping interest rates low and buying these mortgages, they're going to work through, you know, not just the fiscal cliff but well into the future. >> so are there stocks or sectors that you think will be benefitting or getting hit as a result of the fiscal cliff issues? in other words, defense companies will have to cut jobs, transportation companies will have to cut jobs, construction when those spendin
CNBC
Nov 12, 2012 6:00pm EST
. even on the low end with more value oriented stores that should be thriving in an environment where lots of people are worried about taxes going up year end and the fiscal cliff is starting to get top of mind. you have a stock like walmart which has been a jugger not, going up in a straight line since april until the recent pullback. then there is a company like -- sell, sell, sell. jcpenney. if you thought things couldn't get worse for jcpenney on the news from the ceo, well, you were very wrong. as the company missed estimates once again on friday, reporting absolutely hideous numbers, they were blinding. sure enough, pennies continued the decline today, down another $2.67, 13%. like the wheel of fortune, where she stops, nobody knows. far more important, just so you know, there is a piece of preferred, there is another corporate piece of paper affiliated with jcpenney and that is sinking like a stone. that is more valuable to tell how bad things at jcpenney are. getting rid of coupons, cutting price as cross the board, they failed tragically and they started issuing coupons again
CNBC
Nov 19, 2012 2:00pm EST
have just gotten to the point where the company can no longer be competitive in an environment, in a recessionary environment where sales of everything are down and people are hanging on to their wallets. they've reached the tipping point. unfortunately, these guys are probably going to be out of business and somebody else is going to be producing these products in another country or another plant. >> the idea that somehow twinkie sales and ding dong and ho ho sales have been victims of the recession strikes me as a little bit suspect. what really bothers me about this whole thing is if a quarter of the people who have gotten up in arms about the hostess bankruptcy actually ate the twinkies that they are missing. twinkie sales would be a whole lot better shape than they are right now. the fact is twinkies have been coming down and all of the products of hostess, as brian said earlier, it is not their first go round with bankruptcy. they've been there before and the reason is balls the market has moved away from that and i'd like to point out that to people on the right who are decr
CNBC
Nov 14, 2012 3:00pm EST
interest rate environment. we all knew it was going to be a slow economy. we all knew the market was going to grow slow. the bottom line is even with the decline in the last eight days, we're still up 6.5%, 7%. >> you're saying to buy into this selloff? >> i think you have to buy into it. where are you going to put your money? most of the money is going into fixed income. that's just crazy. we know future interest rates are going to go higher. that's not going to hurt corporations. it's not going to hurt profits, but what it is going to do is hurt the individual investor. they should be in equities. when you look at the dividend plays out there, it's crazy not to be. >> boy, when it comes to the markets, michael, you could not have a more different point of view, could you? >> we have about 30% cash. i took out another about 20%. we're about 50% today in cash. i don't think the fiscal cliff is going to happen. i think they're going to punt. i don't think anybody in washington, d.c. has the meatballs or spaghetti to care about cutting our debt and deficits. you know, the only thin
CNBC
Nov 19, 2012 5:00pm EST
perform well in all environments. they shouldn't be down 4% to 6%. >> how helpful do you think cnbc has been in the rise? >> i think it is interesting to have some -- you all have a good voice and are putting it out there and advising. you look at the "wall street journal" and the ceos are saying the same thing saying get this done. we can't have a double digit decline in gdp. let's fix it. >> i have a great voice. i think out of all of them to me u.s. bank corp is the most stable one. if you had to pick one of the banks for the people playing our home game which do you go with? >> bb&t. i think it is a well managed company. they were off by 5% or so. they had some fundamental issues but got really overplayed here in the down fall. probably 200 to 300 basis points as we come to the conclusion that the fiscal cliff is not going to happen. >> is 23% enough that it makes sense why people are selling off the dividend paying stocks or is that a level that you say on this selloff i am ready to buy? >> so that is a great question and brings in a different area. everybody is saying lops the
CNBC
Nov 16, 2012 9:00am EST
pulling back really. i'm just focused on trying to figure out what to do in this environment like i would be in any which brings us to the stock market. already sending a message to washington perhaps about the necessity of a deal on the fiscal cliff. six out of the last seven sessions have been negative. down more than 5% on fears about it but you've been bringing up the market action similarity to a certain extent to 20 plus years ago. a year ago let's not forget we were starting to deal with europe. it did not end until we got ltro, long-term refinancing operations from ecb that said we're going to -- it's not going to go bankrupt today. that's when we were watching italy above 7%. today those ten-year yields up 4.5, 4.6. >> talk about how italy has come. the economy is better than other countries. northern part of italy is increasing industrial production. that's impressive. they never gave up. italian banks some are happy with no problems funding. the reason i go back which is of the analogy why i go back that far. that's a tuesday, wednesday thing in europe. you focus on when
CNBC
Nov 15, 2012 6:00pm EST
this environment with the fiscal cliff and a recession a possibility. look, u.it it's a possibility. today i was throwing a surprise party for amgen. you know what, miscafiscal clif fiscal cliff, we're still having an amgen party here. inappropriate balloon movement there. they make all kinds of drugs for serious illnesses. it has 70 products in development that are starting phase three clinical trials in the early part of next year. phase three means it's getting through fruition. amgen could double earnings per share over the next eight years. that is much better than a sharp stick in the retina. amgen reported on october 23rd after the close and the company delivered spectacular results and was a true triple play. came in $1.67, and revenues 5.9% year over year. when the street was looking for 4.25 billion. and four-year guidance, substantially higher than the analysts expecting. those were fabulous numbers. no surprise that the stock shot up from $87.32, to nearly 90 in after hours trading. however, the next day amgen started to come down, and since then, courtesy of the fiscal
CNBC
Nov 15, 2012 4:00am EST
going on, we will have very difficult environment for investment and growth for the euro area to go ahead. so without clarity where the euro area goes, the environment will be quite difficult. p. >> okay. thanks very much for that. now, he mentioned weakness in europe. that's extending to the u.s. we are seeing futures trying to rebond here, but again, we saw levels of decline in the range of 1.3 to 1.5 yesterday for the major bourses. this morning we're really only getting about 25 points in rebound for the dow jones industrial average. which is thousand sitting at 12,559. the nasdaq and s&p are also showing a little about the of a r rebit of a rebound, but not huge moves. investors digest the growth tigs or lack thereof. spain is trying to move to the up side adding almost 0.3%, so a little better than last time we checked in. the other three down. as we're learning about the slowing of the german economy and the ftse 100, shedding 0.4%, below the 5700 mark. now, we are seeing in the uk a little better, but broadly speaking a mixed picture. we started off seeing both spain and ita
CNBC
Nov 13, 2012 4:00am EST
going to help with some social initiatives, social reforms such as protection of the environment as well as narrowing the gap between rich and poor. but as i said, these are very carefully worded. especially this year. no one wants to say something that is too aggressive or too reformist. because of course there is a pretty powerful group that are against pro market reforms. there are some that benefit, some leaders especially that benefit from the status quo like the officials of state owned enterprises which enjoy some advantages in the form of easier access to loan and less competition. >> if i could ask whether it really matters if the way that we read the tea leaves if it's the reformers or the conservatives here who have more influence in terms of this transition. what he he's the latest view one impact it will have? >> tons of speculation ahead of the roll out on thursday. it's likely going to be a mix of both some reformerses and some conservatives, but you're right in the sense it may not matter in the short term, but long term it will have an impact because some analysts s
CNBC
Nov 16, 2012 6:00am EST
was perhaps unnaturally bundled and a lot of that came from the regulated environment we had back pre-1980 where everything was forced to be in the ticket price. so i think what we've come to is a more natural economic order in terms of cafeteria style. you pick what you want. but i think the unbundling is pretty much done. you may see a few things going forward, but most of it has been done thus far. >> david, joining us very early? san francisco, guys, a day when the company says they'll tap the brakes a little bit on their growth but coming off a profitable third quarter and expecting a profitable fourth quarter. guys, back to you. >> phil, thank you. i was trying to figure out what in the world they could possibly still charge us for. >> they'll figure out a way. all the airlines will. >> wearing clothes? >> paying nor travel with a bunch of naked people. >> can i pay to make sure all the other peenassengers are clo? >> i've never flown virgin. >> i love it. >> you wake up a newborn again -- >> born again every single morning. >>> when we come back, a world of opportunity, why
CNBC
Nov 20, 2012 5:00pm EST
product has got more, you know, less of the bad stuff and more environment oriented. >> monster beverage was the hot thing and the stock was called hanson natural. a lot of people said coca-cola should buy them. are you for sale? >> we are a long way -- >> could you use the muscle of a bigger marketing department? >> i think it's too early to talk about the sale. we're excited about the mission. we have a great celebrity and share registry behind us. we want to take our time, build something great. this is to do something meaningful. >> chris, hope you will come back. >> thank you. >> chris clark of sk. there is at least one hedge fund betting on a groupon turn around. we are giving you the tweets on this battered down stock next. >>> don't go anywhere. cramer has an exclusive tonight you won't want to miss. the ceo cloud computing king cloud force talks. could sales force give it a boost? stick around, cramer has answers. meantime, we have your first move tomorrow when we come back. >> it's the season for holiday shopping and one retailer could be a bargain. plus a play to send your por
CNBC
Nov 13, 2012 2:00pm EST
capabilities horizontallism you will see it on ios in the android environment there san opportunity to step forward and say because of the years of investment, we have a leading capability in the area of mapping and location service. it's important for us we get it in front of as many people as possible because these types of platforms benefit to scale. >> you will see a day when licensing could pay for your r and d in maps. there is a case where licensing is already paying and then some for our r and d in maps, already profitable today. >> lumia sales, how are they doing really quick? >> very pleased wither slip, lineups at at&t stores, sellouts in russia, heard from australia, they are doing great. early days are positive. we have a lot of work ahead. >> russia and australia, you need north america to make it a hit. thank you, stephen elon for taking the time. >> thank you, jon and stephen. >>> up next, making the bull case for jc penny. yeah, the bull case. before that, we have got to get fresh off the tell for example mary torchson, the market flash. >> you surprised me, brian,
CNBC
Nov 16, 2012 1:00pm EST
of mack troe environment we see going forward, we still think there is a place for those high-quality defensive stocks so there is a thesis there apart from the dividend. but, getting on to the high-yield question, with a higher tax rate next year, what it does is i think it makes it quite important for investors to think about asset location and perhaps there's a more efficient place to hold these assets that are becoming less tax efficient. for instance, hold them in your i.r.a. don't hold them in your taxable account. >> let's channel our inner howie mandel, deal or no deal on the fiscal cliff? >> we think deal but not this year. we think there will be a deal around the framework potentially but that the real tax and entitlement reform discussions will have to be hammered out in 2013. >> katie nixon, thanks for being with us. >>> let's hear what washington has to say and we'll talk about that more later on this hour of -- >> tyler, despite what could be positive developments, our economy is still of course to a certain extent being held hostage as we await the outcome of those talk
CNBC
Nov 15, 2012 4:00pm EST
year we do them. based on what we think the macroeconomic environment is going to do. >> so you were at that meeting at the white house this week. you joined a number of ceos at the white house yesterday. did the president give you hope that layoffs can be avoided at aetna? how was that meeting? >> i thought the meeting was a very constructive, very frank and open dialogue. i was impressed with the level and the grasp of the issues that the president had and his willingness to listen to american business about the ways that we needed to solve this problem. i think there is is a path to get this done. it's not going to get all done before the end of the year. but i think our message to the president was we're here to support you if you can avoid the cliff and put together a very specific framework on how we're going to get the economy going. because going over the cliff creates more joblessness. and if we can avoid that, we still don't grow the economy in 2013, so we need to show the business community, and quite frankly, all americans, that we have a plan to deal with this deficit so
CNBC
Nov 12, 2012 1:00pm EST
environment for the other members of the team. is there legal recourse by those other members of the team, and if there is, how often does that type of action happen? >> in my experience it's unlikely that someone would sue for a situation like that but i can tell you from personal experience that they certainly complain. they find it very disturbing to work with people who are having an affair and so they certainly are unhappy about it. clearly there is huge legal ramifications for having an affair with a subordinate. when we know many companies that have had to pay very large fines because of that. so it is expensive and dangerous. >> thank you very much. the book again, "the discrete guide for executive women -- how to work well with men and other difficulties." as sex scandals rock the defense world, women are stepping in to lead. top companies now choosing females as their chief executives. the latest hire, lockheed martin, long-time executive marilyn huson. is this a trend or is the industry growing into a girl's club? jane wells is live in l.a. with more. hi, jane. >> hi, tyler. i
CNBC
Nov 16, 2012 3:00pm EST
because they are protesting the work environment there at walmart where they don't feel they're being heard appropriately, are they likely to be fired? >> we want to listen to them. we want to hear whatever their concerns are. you know, not with a union representative there. they've been to our home offices. we want to sit down and listen to them, but they don't want to do that. every circumstance is going to be different on black friday. we'll take them on a case by case basis. >> we hope you can figure this out. thank you, david. >> thanks for having me on. >>> we are counting down to the bell. let's take a look at what the dow is up to. we have been all over the place today. at this stage, we're moving up by 0.3%. that's 37 points. >> i've heard the bias on the close is to the up side, to the buy side. we'll see if that holds. apple shares have lost a quarter of its value in the past two months alone. when we come back, we'll look at if this is the ultimate bargain or ultimate value trap in talking numbers. >>> plus, delta is resurrecting older jets from airplane graveyards rather
CNBC
Nov 19, 2012 9:00am EST
the bank stocks right now say low interest rate environment and no growth or low growth environmentment in 2013. reason they are not particularly optimistic. today these stocks are bouncing back. carl, they have been beaten up badly in the last couple of months. >> thanks, bob. bob pisani. send it back to head quarters and kayla. she has the market flash. >> watching diamond food. the stock tlaubled for the last year a half. down another 11% today on a downgrade from jefferies. jefferies saying there is a -- 33% more downside for this company to go. last week it restated earnings for the last two years. wipe out about $56 million in profit. they had problem was their accounting and with the payme payments. >> meantime, tensions rising in the middle east. senior official close to binyamin netanyahu is ready for ground invasion in the gaza strip but prefers diplomatic solution to that conflict. >> reporter: hello there. in fact, it is nighttime in g . gaza. the attention is shifting south of where we are. focusing more on cairo, egypt. that's where intense negotiations are
CNBC
Nov 19, 2012 6:00pm EST
you is, in this environment, with the economic environment, with the possibility of a compromise regarding the fiscal cliff, vis-a-vis the increase revenues and cuts in spending, what is your analysis and your opinion on the tax free municipal bonds at this juncture? >> you have to buy them. the individual is going to go right back them and move them up. i think that's a great place to be. don't touch them. i want you to buy them. brilliant idea. now we go to paul in louisiana. paul? >> caller: hey, jim. thanks for taking my call. >> no problem. >> caller: i've been just getting in and sticking with a stock itw. i've been following it for a couple months. they seem to be doing pretty well. there is going to be a change in the leadership. can you comment? >> david spear passed away which is -- he was a terrific guy. this is a very well run company. i suspect that they won't really skip a beat. it's always been a favorite of mine. i would continue to own it. i wouldn't buy it off this. he's a good man. i think it's fine. i think it is fine. is this the rise above rally? we saw the
CNBC
Nov 14, 2012 6:00pm EST
emphasis is on eventually in this ticktock environment. not tomorrow but eventually. maybe a little bit tomorrow. let me just say that we're now going through a process. it's a process that's not unlike what happened last year when we faced the debt ceiling fiasco. everything's based on washington, isn't it? we fell 19% peak to trough before avoiding that catastrophe in the knick of time. and during that decline it didn't matter what you bought. you initially lost money regardless. it turned out to be, though, and this is the operative term for me, not just fiscal cliff, no pain no gain. it was a no pain no gain scenario. i think it's going to be this way this time around scenario too. no pain no gain. today we found ourselves in the thick of the you're going to lose money even on the best of stocks moment. i'm not going to deny it. when you have cisco report a magnificent quarter of tremendous guidance and you hardly get a gain, when you see a stock like home depot headed below where it was when it reported stellar results yesterday you have to accept that earnings alone can't save you
CNBC
Nov 13, 2012 4:00pm EST
? >> i think those numbers are actually not that bad considering it's been a tough environment. on the bottom line, two cents better shows that the company's actually operating a little better. the issue, really, is related to the stock, which is underperformed so far. it's down 6% last year. down 6% again this year. operationally, they are doing a better job. they also boosted their dividend. when we talk to investors, there seems to be a buyer strike at the moment. investors are concerned about networking and whether that entire market can become monetized and cisco's margins will be decreased. i think what's more important are the details of whether cisco can convince investors that the company can compete in an environment which is becoming increasingly software centric. >> now, you know that gross margins have slid over the past few years. what would signal a reversal in that trend? >> that's a good point. at its peak, gross margins were about 70%. last quarter, they were about 62%. i think more software, better products, and better engineersiengineering of a lot of these products
CNBC
Nov 14, 2012 4:00am EST
subdued recovery reflects a judgment that the global environment will remain unfavorable. in addition, the committee believes that the effective supply capacity of the economy is likely to continue to grow slowly over the forecast period. in october, cpi inflation picked up to 2.7%, partly as a result of higher university tuition fees. the committee's best collective judgment of the outlook for cpi inflation is summarized in chart 3 on page 8 of the report and is based on the same assumptions about monetary policy as chart 1. inflation is likely to remain above target for the first part of the forecast period and is higher than in august reflecting recent outturns and the announcement of large increases in household energy prices. further declines in inflation not being checked by price increases in sectors where market influences are weak. the rising student tuition fees alone added over not .3 percentage points to yesterday's inflation figure and do pestic gas and electricity prices are raising faster than wholesale energy prices. such factors are pushing inflation -- >> the point m
CNBC
Nov 15, 2012 3:00pm EST
to go home long a market in an environment where there's -- well, there was uncertainty, obviously, until last the presidency. now we have, you know, continued trauma with what's going on in europe in addition to what's going to happen in washington. clearly, there's just a further divide between one side and the other. that just poses itself that the markets are going to be heading lower. people want to take off. they're not going to be exposed overnight. during the day, it's a lot of back and forth ping-pong and people looking at single stock games and trying to do the best they can. >> yeah, unfortunately all of this uncertainty has led to this sharp decline since the election. s&p capital iq says the market value of all companies on publicly traded exchanges of the major exchanges has dropped by $750 just since november 5th. brian singer, let me ask you about that. would you be poised to put money to work in this selloff, or do you want to get to the sidelines until the dust settles? >> generally speaking, i think the environment is one where you want to look for an opportunity
CNBC
Nov 19, 2012 12:00pm EST
of -- you know, just positive improvement in environment for the financials overall. steve saying that -- of the financials bank of america has the most eps leverage to bounce back in this environment. bank of america biggest percentage gain other the dow. leading financials higher. >> josh brown, buyer here? >> no. i actually on a technicality base list tell you that $10, can clear there with conviction, meaning high volume, and then retest and stay above. that's a really -- safe entry point to buy for a short term trade. under ten, i still there are there are too many sellers and your way. i would wait for that confirmation and think it is worth it. >> are you positive on any of the banks? you are negative on the overall market a little bit. >> we like -- we like and we are long. berkshire hathaway which is the largest holdser of wells fargo and very heavily leveraged to the at the same time thing most of the banks are. home building and mortgages. we would prefer to play through the b shares of berkshire than owning any of these banks outright. especially something toxic like a
CNBC
Nov 13, 2012 11:00pm EST
concussed yet. second it is not a major league stock. it is the wrong stock for this environment. >> susan. >> how do you feel about exel? >> i like exel. and by the way, another one of -- another one of our specs, dbax, nice move today. remember, i am in favor of speculation as long as it's only one small piece of your portfolio. and that is the conclusion of and that is the conclusion of the lightning round. but whetr he's climbing everest, >>> everybody is freaking about about washington. the fiscal cliff is a man made problem that congress and the president created. if they would stop squabbling with each other they could solve this thing with the stroke of a pen. i'm not trying to minimize the scale of the problem. it could send our economy back into a recession. i'm going to keep going. people are saying why is this stock and that stock down. it is always the same. it is because the fiscal cliff. it is killing stocks. but you know what? some of the stocks that would be the worst hit, the defense contractors, are telling a different story. as a big part of the cliff, they ar
CNBC
Nov 19, 2012 4:00am EST
this stage. there's a little bit of a risk on type environment at the moment. and the ten year bund yield moving a little higher. the same goes for spain, built oig and yield, as well. we were looking at the euro just bouncing a little bit against the dollar. you're heading into this morning's session, we're holding on to those gains, 127 and a bit. the dollar yen coming off by just a tad. president obama meeting with myanmar's president and opposition leader. obama saying his six hour stopover should be seen as a sign of support for myanmar's attempts at democratic reforms rather than endorsement of the country's government. meanwhile his three day trip is also aimed at reinforcing america's ties with the region. analysts say it's something china is watching very closely. deidre has more. >> the obama's administration to choose southeast asia as the president's first foreign trip since winning re-election was greeted by some with surprise. after all, there are far bigger economies in asia that warrant his attention. the strategic importance of southeast asia in the region is in ful
CNBC
Nov 20, 2012 4:00am EST
150 mps who were supposed to have resfsh accounts and creating an unhealthy environment in greece. >> costas has been tried and acquitted of publishing personal information and we found out on friday that actually he'll have to face trial yet again and i think this issue just cuts to the heart of the credibility issues that the greek government has not just with the people here, but also perhaps with the international community, too. back to you. >> all right. jewels, thanks for that. that's the latest from athens. let's switch over to silvia who is in brussels. we know now that they're not ready to cut greece loose. everything else is just a bit of a game. keep them going until we get past the german elections. >> i'm kind of getting a bit fatigued bithe elections excuse. i think it's all a bit too simplicity to say we're pushing everything down into deep space because angela merkel has to get through elections. it's convenient and simple and i don't think it doesn't cut to the heart of the story. if it accounts for 20% of what's going on, that's already a lot. the rest i think a
CNBC
Nov 14, 2012 6:00am EST
guest has a few ideas about how you should be positioning your portfolio in this environment of uncertainty. he manages more than $14 billion for westfield capital. and will, i know you've got interesting thoughts about what's working right now and what people should be doing. which is great, we hear from a lot of people who freeze up at this point, keep things in cash. but you're looking specifically at stocks that might benefit from things like an improvement in the housing industry, which is something we heard yesterday from home depot. >> yeah, exactly. i think the one big difference with the debt ceiling negotiation, for example, the republicans had an incentive to make the current administration look bad because they're trying to win an election, right? well, now with the election over, i think there's an incentive for them not to obstruct. and so i do think something will get done. it'll most likely be a minor deal to buy some time and maybe we get a major deal in 2013. but at the end of the day, i think there'll be some fiscal drag in the first half of '13. rather than s
CNBC
Nov 12, 2012 9:00am EST
smarter than the average bear. >> that may be the case. and in these kinds of environments where we see few details often those are the best deals. it's when everyone has confidence and equity markets are up and everyone is feeling great that they do stupid things. >> right. there you go. >> let's check in with bob pisani here on the floor with more of what's moving this morning. >> boy, did i hear dumb talk over the weekend about going over the fiscal cliff. i guess you were going to hear it. go ahead. let them go over the fiscal cliff. who cares. i heard this even from some people whose opinions i respect. well known economists and columnists. good heavens. did anybody look at what happened last time we were talking about this? the fiscal cliff is a wake-up call to politicians. august 2011, we were all here sitting on this floor when they couldn't agree on simple ability to raise the debt ceiling and they downgraded the debt. remember what happened? the s&p dropped 7% that week on the monday after it dropped another 7%. the vix went to 50 for a long time it stayed there. it ruined
CNBC
Nov 15, 2012 6:00am EST
saying in this environment i should be 75 equities, 25 bonds because of the risk? >> yeah, i think the problem is nobody is 50/50. today people are sitting at 80% this bonds. 10% quit tis and a little bit of cash. here's the big issue. americans need to retire. 75% of them have already said they don't have enough money. 40% said they'll never have enough money. so they're funding their lon term liability which is retirement 15 years, on average 58 years old, and they're funding it with a security that's at the end of its peak cycle. so usual getting zero rate of return and you're saying i'll fund the liability by an investment that i'm guaranteed to lose money in. the world is more complicated. it's not 50 stock and 50 bond. so you have to say i need to start to move into a more balanced portfolio. the big problem people have is they think it's a binary switch. i go from stocks to bonds. maybe risky people and speculate tors do that. but it means i need to start to lessen my bond position, because more balanced. buy global bond, buy good u.s. and foreign companies, take advantage o
CNBC
Nov 14, 2012 5:00pm EST
environment. >> next a it is hip to be square. the payment company announced on twitter it has hit $10 billion in processed payments before starbucks starts using square. starbucks will add 6 billion more a year so you can use square to buy your tea vana tea. >> we can't trade square because it is not public. to us veri phone. we have been short. pay anywhere. tons of them. >> celebrity trades. >> first go long channing tatum. i have been accumulating tatum calls for a long time. it is one of my best investments. take profits on the beebe. justin bieber pulled over by police driving a ferrari. he broke up with his girlfriend so expect volatility in the near term. you can never go wrong investing in one californian. kevin bacon all stories lead to him. we discover the six degrees through kevin bacon. the two biggest stories this week. general petraeus links to kevin bacon leads to her starring role in the closer which leads to john mcaffee. >> he claims to be a new yorker. we want to take credit for kevin bacon here. >> do we? >> his wife works for the lapd on the closer. >> i will tell
CNBC
Nov 15, 2012 12:00pm EST
do in this environment now is hold fewer positions, definitely have a little bit more cash. take some profits where you can. we've been doing that. home depot, wire houser. we sold some ebay today. you need to look at names that have gotten hit hard. go back to something like a coke, something like a verizon, go back to companies that are doing self-help. eaton is buying coopers. starbucks, i liked that deal last night. they're buying growth at an attractive price. i still think that dmien is a long-term theme and you can be buying those. >> we'll hear interest all of the traders certainly coming up. also, we're going to hear from former house majority leader dick gephardt who says the market could plummet if there's no deal. mr. gephardt is going to join us a little bit later on for some insight on what could happen if it all goes down. >>> meantime, apple continues its tumble today. let's get a market flash with bertha. >> thanks, apple falling to a six-month low. could this be near the bottom? we certainly seem to have hit the top in september over the iphone 5. if apple close
CNBC
Nov 15, 2012 9:00am EST
environment and economic factors are making things somewhat difficult for our customers and that's why we're getting to those numbers. the stock had come in and it's going to again today. >> a lot of investors are thinking that this gigantic move and pull back appropriately to some average and was ready to blast off. look, you've got target nipping, you've got dollar tree reporting good numbers today. walmart had a great move. and now its great move i think has run its course. >> an amazing chart, if you go back to walmart stocks, the dip in the stock, it was the bryberry bottom for this quarter. i don't know if we're setting up for something better than anticipation but the head of u.s. walmart said november sales started ahead of plans. and they have got some extra sales thanks to lay away which has been a very popular program for retailers of late. >> we used to get monthly comps from all these retailers. >> those were the old days. >> i think the problem with wam mart, frankly is, the stock was acting as if it was going to put target numbers up. pets smart reported the best numbers of an
CNBC
Nov 20, 2012 2:00pm EST
bad deal that just turned absolutely horrible. so, we have got an environment that's difficult. we have got a bad outlook from hp today. on top of that accounting imp pro-pry test. i think investors going to continue to shy away. this is a show me stock. it is going to take a while to regain investors confidence. >> you are not saying sell? >> not saying sell. we have got 11.50 price target. we cut this morning. i think investors need a few quarters of consistency from hp. need to get to the bottom of this unfortunately, doesn't sound like autonomy issue is going to be resolved in the next quarter or two. going to take a while. >> i hate to harp on this point, right, but the magnitude of this write-down is staggering. saying we bought as 10 billion company that may or may not now be worth just $1 billion, okay? you talked to bankers. you talk to ceos, how do you miss $9 billion in allegedly now phantom value? >> it was 11.1, written down 8.8. 5.3 billion of that write-down is due to -- they don't use the word fraud, we have been because every word they use is fraud. a will youful e
CNBC
Nov 13, 2012 9:00am EST
this environment. carl, back to you. >> wednesday is the day when they name the new partners at goldman, i believe. >> that's right. >> people waiting for the call. >> people close to or a source close to goldman sachs says it will be the smallest class in over a decade. probably less than 70 will be named partners at goldman sachs this year. back to you. >> thank you so much. mary thompson at headquarters. a big mover in drilling and natural gas space. >> weatherford this morning off 12% at 3.5 year low. the company warning that fourth quarter is going to come in for earnings below consensus on that number. and they also said that they still have not been able to resolve what they call material weakness in internal controls over financial reporting. they actually didn't break out their third quarter numbers. stock getting hit hard on a day when energy is already to the downside. >> motor trend magazine naming tesla's sedan the car of the year. will the model live up to the hype? we'll find out when tesla ceo elon musk joins us. >> just seven short weeks left to hopefully do a deal on t
CNBC
Nov 20, 2012 3:00pm EST
would depress earnings. right now we're in a decelerating earnings environment. fourth quarter is likely to see about a 5.5% gain. that's well down from more than a 15% gain expected earlier this year. the same we've seen is depressing for next year. >> is that priced into the market, you think? >> i think it does. i quite frankly think the market sold off too much following the election. it probably rallied too much yesterday. overall year to date, i'd argue the market is probably higher than it should be given where our economy is right now, our employment right now. a lot of that has been led by government intervention and stimulus. bernanke is right to say they don't have much ammunition left. the private markets need to lead the way. >> the ball is definitely in congress' court. rick, what did you make of what bernanke said and the market and how they've been responding? it's clear, from nothing else, that this is still a very headline driven market, isn't it? >> oh, especially on a holiday week where it's been thin. my problem with what he said was is that ben bernanke said
CNBC
Nov 16, 2012 4:00pm EST
. just doing the simple math here, it seems to me we have tax hikes in a slow growth environment. that isn't a great environment for stocks, is it? >> yeah, i think what this did, or this more conciliatory tone takes some of the tail risk off the table as far as an immediate shock earlier in the year. you're right. there are some significant problems that are going to have to be dealt with. just because you get a compromise doesn't mean you're not going to have a cutback in the deficit. there's a lot of causation. >> you think this market is beginning to transition away from all the liquidity of the quantitative easing. >> no question about it. the market is off not quite 10%. if you look a little deeper there, you see stocks that are off 30, 40%. i do think there's some opportunity there is. >> like which ones? can you name names, mark? >> sure, absolutely. intel. it's a very controversial, contrarian name right now. they've lowered earnings, however, even on those lowered earnings, you're talking about a stock less than nine times -- >> but intel was the best performing dow component
CNBC
Nov 13, 2012 1:00pm EST
environment that we are going to face in january? >> first thing i would remind them is to expect the up expected. a couple of years ago, we were all stunned when president obama signed into law the tax relief act that extended bush tax cuts and increased transfer tax exemptions to historic levels. we are now looking at something very different and we need to prepare for taxes rising, but also, take advantage of certain opportunities today. as you say, we have got about six weeks left to get it done. >> let talk about some of those advantages, because it's such a scary story really. >> yes. >> if you've had a decent year in the market and you have some gapes, a lot of people are talking about apple, for instance, there's some thought that maybe if you have a pretty decent gape in apple, do you take those profits this year? do you accelerate your income at this point? >> well, think about what's happening to capital gapes tax rates. we are at 15% today, slated to go up to 20% in january, plus you have the specter of the new medicare tax, which now we know who won the election, so we kn
CNBC
Nov 13, 2012 12:00pm EST
spending more each time they come. so i think tjt works really well in this environment, as i've called it before. it is the discount retailer that doesn't make you feel miserable for shopping there. so i agree -- >> how about this notion, josh, and let's respect the technicals, and the work that enis does. if jcpenney is due for a technical pop, why not buy it as the stock sinks? >> because it's not due for a technical pop. it hasn't happened yet. >> you're crazy. >> what you're saying is it's very stretched out to the downside and oversold. that's fine, but that can remain for a while. if you're a short-term day trader, sure, why not. but if you're looking at that as an investment, i don't see why it's worth risking to make a 5% one-day pop. >> i'll say this. i'll say this, scott. everyone here is bearish except me. so maybe that gives you a bit of a -- >> that's all right. that's what makes a market. next on half, facebook continues to lose friends. how you should be trading that stock ahead of millions of shares flooding the market tomorrow. plus, stocks rallying a bit today, but so
CNBC
Nov 14, 2012 9:00am EST
this environment. what sky high advice is he about to give right now? jim's mad dash is coming up next and romney for president policy adviser lanhee chen. take a look at futures as we start into the open bouncing off three month lows. "squawk on the street" continues right after this. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >> jim and his mad dash talking. this week is a watershed week for nat gas in general. >> cold in new york. 28 degrees. that often can burn off the inventory. clean energy fuels had them on last night. why focus on this? they have a clear growth path to build out stations. lloyd blankfein said in his editorial that key thing for growth in our country is energy. abundant energy. i thought we should look at clean energy that would benefit. markwest, this is a company that has a price above where they did secondary. look at the "wall street journal" word
CNBC
Nov 20, 2012 6:00am EST
some certainty, they'd like to know they're in an environment that's more business friendly and of course for the brand, our job is to do all we can to build the brand and help them succeed not only with sales but we're watching costs, too, if they're operating in an environment with higher costs and regulation, we've got to do what we can to help them make a profit and employ people. >> they must be watching negotiations in washington closely. do they care if taxes go up on the high end? >> they absolutely care. they are truly small business owners, and when you meet our franchisees like so many small business owners around the country, they're in their stores, working the grill, dealing with their customers every day, they're the ones on the front lines hiring employees,ing making decisions whether they'll buy new equipment or build another location. they'd like to know what environment they're operating in. they effect them personally and the families of the people that work for them. >> can you get a franchise alone? is it easier than it was a year ago? >> yeah, credit market h
CNBC
Nov 15, 2012 1:00pm EST
still struggling in this economic environment. unemployment has gotten better but it's still around 8%. we've got this fiscal cliff looming. yes, the holidays are around the corner so that's what many retailers are banking on. but beyond that it's been tough. we had super storm sandy hit. that put an impact on a lot of retailers from department stores to big box stores like target and walmart. really what they're saying is the consumer is still under some pressure. that paycheck cycle still an issue for the walmart consumer and they say that jobs, gas prices and rising food prices also an issue for that group of shoppers. >> is housing about to fall off the fiscal cliff? what homeowners and future home buyers need to know right now. >>> mean. time, let's head out to sue at the schwab investor summit. impact in chicago. what do you got, sue? >> we got a lot coming. up. incidentally, ty, they miss you out here. we're going to talk about how to prevent your portfolio from literally going over the fiscal cliff. michael cuggino will show us. a five-star rated fund manager. $17 billion unde
CNBC
Nov 16, 2012 12:00pm EST
thesis. i think dividend payers will continue to work in what i see as a bond friendly environment for the economy. >> if the dividend rate does change and it is impactful to the change, empirical data shows that 3 months to 6 months they underperform non-dividend payers by 50%. >> grasso, do you have trades on it? >> i bought wynn for a growth story, not a special dividend. what's important to viewers is to know that once it goes ex-div, they do not have to hold it until the payable date. if they're trading off this, it is one thing. if they're investing off this, totally different. the dividend plays, 402 out of 500 s&p companies pay a dividend, the most since '99. any change to the dividend status is impactful to the overall market. >> what's your microsoft? watch out for that. >> more on the market move, moving higher. plus casino company makes a huge bet and it is paying off for shareholders today. so will others follow suit. lots more halftime report straight ahead. [ female announcer ] the next generation of investing technology is now within your grasp with the e-trade 360 inve
CNBC
Nov 14, 2012 4:00pm EST
talking about a high regulatory environment. who the heck knows what happens over the near term on the fiscal cliff. is it more prudent to stay on the sidelines? you want to look for specific situations? >> let's assume they're in. they're not traders. we're an advisory conference. they're in the market. i think to sell here, to just get nervous, panic, see what's on the news and to throw it in is not prudent. we're coming into thanksgiving. you have good seasonality. i think we get a lift. when we get a lift, if you are this person who says i need to take some risk off the table, that's when you do it. so if you're looking to go into 2013 and you are uncertain, as i am, i think we have a lot fourth go down. so if you're a trader, i think you can trade this to the up side. if you're a longer term investor, you get a pop, you take some off the table and you re-evaluate like in six months. >> that's the strategy. wait for a gain so you're not selling out at the bottom here. >> i think selling in the red today is not prudent. >> okay. dan, let me get your take on this. how do you see
CNBC
Nov 20, 2012 1:00pm EST
like there would be substantial fiscal contractionary impact next year. so in that environment what can the fed do to try to offset that to make sure that it doesn't take touts edge of or over the edge of a recession? >> so we will see what kind of deal comes out and i think there are a range of possibilities but you are correct, even if the most extreme scenarios are avoided that some plausible scenarios still involve relatively contractionary fiscal policy overall. i made that point in my remarks write said under most plausible scenarios, no matter what happens next year, that the tightening of federal fiscal policy will outweigh the stronger, more expansionary state and local fiscal policy we are getting. so, all of that is right. it's up to congress and the president, of course, to figure out how they want to make the tradeoffs between getting budgetary improvement in the long run and providing additional support for the economy in the short run. then we are going to see how that goes. i think, again, my advice on this is sort of do no harm. and in that respect, what i am partic
CNBC
Nov 12, 2012 6:00am EST
is a real scoop in an environment where there are no deals, david brought us a very good scoop. >> that's why you haven't participated in any of this. there are no other deals. this was the only one. >> not many needles in the hay stack. >> david found the only one. thank you for bringing it here, david. boyd jeffries name. >> what was it exposure in europe? >> egan had all sorts of rhymes and reasons for that company falling apart. >> we'll talk about shipping right now, from i-phones to apparel, cnbc's senior talent producer, lori ann larocco, our staff, incredible producer and her book "dynasties of the sea," and lori ann, reading through this, we know how important shipping is, we talk about it every day but there were things i didn't realize how much of the things in our homes are brought to us from ships. >> 92% of everything in a household has been on a ship and ever since superstorm sandy we've all realized how important shipping is as we're all going through this gasoline crisis. it's really amazing in terms of the wide breadth that the shipping industry has on the eco
CNBC
Nov 13, 2012 6:00am EST
, anyone can check you out, it's efficient, nice environment. it's the apple store customer interface combined with the best brands of the world in a small geography. we had $250 a square foot in sales with the traffic down 12%. >> for your sake and for ron johnson's sake i hope this works and i love a great come back story. >> i want to leave our viewers with one thing. the biggest problem people have with something like this, how can i own a stock when the sales are down 26%? i'll make one analogy and help people think about how to value this company. we took a stake in wendy's, why did people not like wendy's? i get a chance we come back after a commercial, i'm happy to stay. >> i think we're going. >> give me one minute and i'm happy to come back another time. wendy's, people hated the management, there was a fast growing company called tim horton's inside wendys. we separated and the stock doubled. we have this fast growing retail inside jcpenney, profitable and high margins and the rest of jcpenney is shrinking. it's hard to look at it on a consolidated piece. you have to value
CNBC
Nov 19, 2012 6:00am EST
supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. >>> hard rock international is teaming up with yoko ono. and why hunger for the imagine there's no hunger campaign. horn $4.5 would million has been raised during the past five years and the president and ce off of the hard rock cafe has been very involved in this. tell us a little bit it. >> thanks for having me. this is a ram we've beprogram w running for many years. there are a billion people beneath poverty and hunger level in the world. and the program really is a program that enjoins why hunger, yoko ono and ourselves and we encourage our staff and our customers to basically provide funding around this holiday season so that we can divert the -
CNBC
Nov 20, 2012 9:00am EST
think is realistic for q-1 which is a tough macro economic environment. a lot of our savings in terms of our savings program will be back end loaded because a lot of that is labor now moving to europe where it is much more difficult to separate people and takes longer and then some of our nonlabor savings we're instituting that executional excellence around skew reduction supply chain and those will kick in in the second half but perhaps most importantly we have some fantastic product coming up and i think i've been clear that companies come in on the backs of terrific products and those will kick in in the second half. >> many would say that they're going to have to. to those that would say what you're really do is managing a declining business because at the end of the day the rise of the tablet is actually the fall of the pc and printing because people just carry this thing around with them everywhere. how do you challenge that assumption that really all you're doing is managing a declining business. you may be managing it well. that's what it is. >> well, i would say there's two piec
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